The Employment Challenge

TW: I have posted this before but this one is updated (click on it to enlarge). It is the best, most succinct chart of what I believe is going on with the economy. One can note the last three recessions have been characterized by long, slow recoveries. The difference with the latest or current contraction being the depth of the decline, which while slowing has by no means ended and shows every sign of taking the long way back towards growth as opposed to any kind of "V" shaped rebound.

There is something wrong with the American economy. I wish I knew exactly what it (I have my suspicions) was as the recoveries from the 2001 recession took place while blowing the real estate bubble. Jobless recoveries are nonsense, either you have employment growth or you do not have a real recovery.